The United States Securities and Exchange Commission (SEC) is gearing up for its first closed-door meeting under the leadership of the new Trump administration. The meeting is scheduled for Thursday at 2:00 PM ET, with attendance restricted to SEC commissioners and select staff members. Former SEC official Marc Fagel suggests that the meeting will likely involve voting on previously proposed recommendations. But will it bring any resolution to the high-profile Ripple case?
SEC’s First Meeting of the Year Set for January 23
The SEC is holding its first meeting of the year, with Commissioner Mark Uyeda serving as Acting Chairman under the Trump administration. FOX Business journalist Eleanor Terrett confirmed that the meeting will take place on January 23 at 2:00 PM ET. According to the SEC’s Sunshine Act notice, the meeting will not be open to the public. Only SEC officials, including commissioners, advisors, and select staff, will participate, either remotely or at the SEC’s headquarters in Washington, D.C.
Agenda: Enforcement Actions and Settlements
Terrett reported that the agenda includes discussions on injunctive actions, administrative proceedings, and resolution of litigation claims. The meeting will also cover enforcement actions and investigations, potentially touching on the ongoing Ripple case related to XRP sales. Members of the XRP community remain hopeful that the case might be resolved or dismissed, with some calling on Uyeda and Commissioner Hester Peirce to adopt a more crypto-friendly stance compared to the regulatory approach under former SEC Chair Gary Gensler.
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Ripple Case Sparks Community Optimism
Optimism runs high among Ripple supporters, who are eager to see the SEC drop its case against Ripple or at least resolve it. Many are hoping for adherence to the 2023 ruling by Judge Analisa Torres. Additionally, crypto market participants urge Uyeda and Peirce to avoid disappointing the community and to steer clear of the perceived anti-crypto sentiment associated with the previous SEC leadership.
However, Marc Fagel, a former SEC official, offered a different perspective, emphasizing that such closed-door meetings are routine and primarily involve voting on pre-arranged recommendations. Terrett also acknowledged this view, suggesting that expecting significant decisions from this session might be premature.
Key Takeaways
While the upcoming SEC meeting has generated speculation about its potential impact on the Ripple case, it remains unclear if any major decisions will be made. Ripple supporters and the broader crypto community will closely monitor developments, hoping for a resolution that could set a precedent for regulatory clarity in the industry.
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